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Tuesday, 8 March 2022

Could the war in Ukraine obstruct the green energy transition? Plus: The UK wants to close the gender pay gap

The global green energy transition could be significantly derailed as the war in Ukraine wears on, the Financial Times writes. Despite last year’s COP26 summit drawing a clear roadmap to cut fossil fuel dependence in the path to net zero emissions, this shift is growing evermore complicated as the crisis deepens, particularly as the EU and US look to essentially eliminate Russian oil and gas from their energy mix.

That shift away from Russian energy is widely expected to supercharge the use of coal in particular, especially as “renewables have not grown enough to replace the coal that needs to be removed from the system,” IHS Markit’s VP of power and renewables tells the salmon-colored paper. But even before the Ukraine crisis, coal dependency was on the rise in the post-pandemic recovery demanding more power, with soaring gas prices translating into coal being the more cost-efficient option.

The UK government is marking International Women’s Day with a bid to close the gender pay gap, launching a pilot program pushing employers to post salaries in their job adverts. The program also wants employers to stop asking applicants about their salary history, which could give women a leg up in negotiating their salaries, the government’s equalities office said in an emailed statement cited by Bloomberg. The government cited a Fawcett Society study suggesting that asking about a prospective employee’s salary history had a “particularly negative impact on women’s confidence … [and] can mean past pay discrimination follows women, people of colour, and people with disabilities throughout their career.”

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